Join Brad Batesole for an in-depth discussion in this video Budgeting for direct mail, part of Offline Marketing Foundations.
- When it comes to direct mail,…you're working to identify a budget…that can deliver a return on investment.…To figure out if direct mail will be profitable,…we need to sort out how much a campaign will cost,…what our conversion rates will be,…and how much mail we need to send.…To crunch the numbers, we need a few existing data points.…The lifetime value of our customer,…or the average order value.…Our existing or anticipated conversion rate…and the response rate for direct mail.…
Let's say we have a mobile dog grooming business…and we profit, on average, $80 per sale.…We also know that our average customer…will groom their dog about six with our business.…So we have a rough lifetime value of $480 per customer.…Now I'm simplifying here, but essentially,…I can assume I'll make just shy of $500…whenever I land a new customer.…I won't make it on the first sale,…but I will make it over time.…Next, we need to know our conversion rate…or sales close rate.…
Let's say that we see that about 25%…of our customers that visit our website…
- Identify the pros and cons of offline marketing.
- Recognize the fundamentals of audience development in offline marketing.
- Recognize how to break down expenses when setting up an offline marketing budget.
- Explore the elements of using direct mail in offline marketing.
- Examine the use of events such as promotional giveaways and trade shows in offline marketing.
- Identify the pros and cons of using print advertising in offline marketing.
- Break down the benefits of television and radio advertising.
- Explore the fundamentals of using promotions in offline marketing.
Skill Level Beginner
1. Offline Marketing Overview
Deciding how much to spend4m 38s
3. Direct Mail
6. Television and Radio
Getting media mentions4m 50s
Next steps1m 12s
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